Common use of Full Vesting; Termination; Assumption or Substitution Clause in Contracts

Full Vesting; Termination; Assumption or Substitution. Upon the occurrence of a Change in Control (as defined in Section 9(b) of the Plan), the Option shall become fully exercisable regardless of whether all conditions of exercise relating to length of service have been satisfied. The Committee may also provide for the assumption or substitution of the Option by the surviving entity as described in subsection 5(b) and make any other provision for the Option as the Committee deems appropriate in its sole discretion. The Committee may, as it determines in its sole discretion, provide any portion of the Option outstanding at the time the Change in Control occurs shall expire at such time so long as the Option Holder is provided with notice no earlier than 20 days than the later of (i) the date in which the Option becomes exercisable or (ii) the date in which the transaction occurs.

Full Vesting; Termination; Assumption or Substitution. Upon the occurrence of a Change in Control (as defined in Section 9(b) of the Plan), the Option shall become fully exercisable regardless of whether all conditions of exercise relating to length of service have been satisfied. The Committee may also provide for the assumption or substitution of the Option by the surviving entity as described in subsection 5(b) and make any other provision for the Option as the Committee deems appropriate in its sole discretion. The Committee may, as it determines in its sole discretion, provide that any portion of the Option that is outstanding at the time the Change in Control occurs shall expire at such time so long as the Option Holder is provided with notice no earlier than 20 days than the later of (i) the date in which the Option becomes exercisable or (ii) the date in which the transaction occurs.